Veeva Systems Inc. (NYSE:VEEV) Holdings Trimmed by Private Trust Co. NA

Private Trust Co. NA trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 44.3% during the 4th quarter, HoldingsChannel reports. The firm owned 226 shares of the technology company’s stock after selling 180 shares during the quarter. Private Trust Co. NA’s holdings in Veeva Systems were worth $44,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Veeva Systems during the 3rd quarter worth approximately $25,000. Rise Advisors LLC grew its holdings in shares of Veeva Systems by 424.0% during the 3rd quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Operose Advisors LLC purchased a new position in shares of Veeva Systems during the 3rd quarter valued at $29,000. Resurgent Financial Advisors LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at $33,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after acquiring an additional 77 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In related news, EVP Alan Mateo sold 910 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total value of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,500,359.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alan Mateo sold 910 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total transaction of $186,295.20. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,500,359.76. The disclosure for this sale can be found here. Insiders sold a total of 17,148 shares of company stock valued at $3,836,900 over the last quarter. Corporate insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, March 26th. Piper Sandler increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Stifel Nicolaus increased their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $211.19 on Friday. The firm has a market cap of $34.07 billion, a P/E ratio of 65.59, a P/E/G ratio of 2.17 and a beta of 0.74. The firm has a 50 day simple moving average of $222.40 and a 200 day simple moving average of $202.85. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.